World Bank Eases Financial Shocks in Latin America

Latin America and Caribbean nations affected by the ongoing financial crisis will be able to access supplementary funding from the World Bank’s International Bank for Reconstruction and Development and International Finance Corporation. IFC will provide USD500 million in loans to small and medium-sized enterprises. “We are increasing the availability of trade finance and putting in place funding packages,” said Atul Mehta, IFC’s Latin America department chief. (“World Bank Ready to Help Latin America Cope With Crisis” - World Bank, Oct. 13, 2008)

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